John Hurrell, CEO, AIRMIC
“Mactavish’s research is thorough and convincing, and it lifts the lid on a potential crisis looming in the UK commercial insurance market. Airmic has long argued that the current legal framework for commercial insurance contracts is unsustainable as it requires buyers to anticipate what the insurer may regard as ‘material’ information. Any alleged breach of this rule, even if innocent and unrelated to a particular claim, can lead to an insurer avoiding a policy on grounds of non-disclosure. This research illustrates just how dangerous the situation can be. Mactavish’s proposed remedies are credible and well argued. They align with Airmic’s own work to produce a best practice guide and, with Herbert Smith, to create a remedial clause that provides greater clarity for both parties.”
